clb blog 2

Conversion Rate Optimization: part 2


This is How your Conversion Funnel should look like?

In this case your conversion funnel should look like this

The first step is “Customer Discovery”
You’ll be directing traffic to your website,
It could be from Direct, and organic traffic,
Or Advertisement campaigns like PPC,
OR Forums, etc.
and once visitors are landed on your landing pages,
they will come to know about your blog posts,
Your lead magnet, or even your product, and pay a visit to your product page.

The trick here is to implement “customer journey optimization” strategy also known as CJO strategy
to engage with your visitors, and lead the through the path that translate to a purchase, or an opt-in

Because customers who come from different source, have different needs.

The Next step is Engagement
Influencer marketing, and branding play a huge role at this stage
because since customers don’t have a tool to measure your credibility,
they will use the eye ball test.

If you manage to pass the eye ball test,
By showing enough evidence that your business is credible,
Or social proofs from previous customers,
Or even positive reviews on the internet,
you have a good chance to see your prospects in the next stage.

It’s time for your customers to Register
Here is the truth:
Unfortunately, since there are plenty of scams,
no one is willing to buy from you the first time they visit your site.

At this stage, it’s best to offer a lead magnet, and don’t push for sales.
You can try to encourage them to opt-in to your subscriber list
by offering a well-designed white paper to download,
or something that fits their need without charging them.

Once your visitors decided to exchange their information for your lead magnet,
it’s time for a little push.

Let’s give it a try! The Trial Phase
Your customers might not be ready to buy your core offer yet,
So you can offer them your Bait,
Which is an interesting offer that offers between 7% to 20% of functionalities of your core product
“at cost“, “with no margin“. or even for free

If what you’ve offered them for free in previous stage was a case study about the values of your product
And they have opted in with that free report,
You can offer them a comprehensive, or premium report
Plus limited access to your product for testing purpose
Either for free, at a very low cost or great value for money,
This way, your leads will automatically move don your conversion funnel, and download/try your trial product.

Promotion: When and what to promote to get higher conversion rate
Don’t be a greedy business owner who just care about dollars and figures.
You must give enough time to your customers
and let them enjoy the free trial,
but you should also engage with them
and make sure they are getting the best out of their offer.

In fact, the secret to having higher conversion rate,
especially when it comes to converting leads to paying customers
is in genuine follow ups during the trial period.

You must know that not everyone knows how to use your product,
besides, they might sign up for free trial and don’t even use it.

As an entrepreneur or a growth hacker, you can automate your engagements for trial period,
but you must make sure to personalize it too.

You can send them the “how-to guides”
and practical, yet, easy to understand supporting materials
to help them understand your unique value proposition and fall in love with your product.

Closing The Deal
This is where your leads, and opportunities convert to paying customers.
At this stage, you managed to get your customers on your landing page, or checkout page
And they are ready to key in the credit card information.

Make sure that your sales letter,
whether it’s a Video sales letter (VSL), or a Hybrid sales letter
Includes everything that your customer need to know

Include your Pricing model
And try to simplify it as much as possible
If there are payment plans, try to highlight the one that managed to attract more customers in your conversion rate optimization experiments
And make sure to simplify your checkout forms.

Once your customer paid for your service,
… It does not matter if you are offering a tangible product, or virtual product,
Or even if you are selling one off services, or your product is designed with recurring pricing model …

You must focus on Email marketing activities to engage with your new customers
to ensure your customers are happy with their purchase.
And your value proposition is well perceived,

In fact, if you manage to keep your customers happy,
You can get them back to buy again
Or refer you to their friends and get new customers, organically.

Steps to Design a Killer CRO Plan

OK, now wanna know how to Design a Conversion Rate Optimization Plan

The basis of CRO strategies are on valid data
And you need to collect valid data, as much as possible
But not any data!

At first, let’s see what happens when you implement CRO strategies

As soon as you begin working on CRO strategy,
and optimizing your landing pages
You’ll find quick fixes, and low hanging fruits like
Changing Color scheme, CTA text, etc.

While those data are very important
You must make sure that you’re analyzing your customer behavior too

If you have a solid data-mine to begin with, That’s perfect,
Otherwise build your plan based on hypothesis and do your best to find the validity of your hypothesis.

Why should you collect data?

One of the most important lessons I learned after spending $252,000 on conversion rate optimization is the importance of gathering both qualitative and quantitative data before beginning to test. 
If you don’t gather data, then you’re left guessing what to change based on your gut. 
This isn’t a good idea and can lead to wasted time and money.

It’s better to spend a month or so gathering data so you are testing based on insights you’ve learned,
not on your gut feeling. Without taking this step, you’ll end up running a lot of tests that fail.

What to test in your CRO plan?

Try to understand what these data, numbers, and interactions means before proposing a solution
Concentrate on testing your hypothesis, no proving them. 
You can easily pivot and find a better strategy

Keep an open mind when analyzing your data, Being Bios about your goals may interfere your interpretation
Document everything, and develop a knowledge base for your CRO strategies
Don’t interrupt the experiment, and run each test for at least a month; Remember conversion optimization is an ongoing strategy

How to collect data?

There are free and paid tools that help you collect data.
You need to use the right tools to collect data about

Number of unique visitors
Bounce rate
Overall traffic from different sources
New Vs Existing users
Cohort Analysis
Goal and conversion analysis,

Tools: Here is a list of five popular tools that you can use for your conversion optimization experiments.

Google Analytics (free)
Now, if you don’t have a budget to spend on paid analytics tools, you can use the most powerful free tool …

As a webmaster you have already setup your google analytics, and google search console.
Why not using them?

Once you logged in to your Google Analytics dashboard,
Scroll down, and go to Conversions.

If you don’t see any result,
It’s probably because you have not set your Conversion goals.
Once you set a few conversion goals,
and let Google Analytics collect data for a week or so,
You will be able to monitor your conversion goals, and analyze data for conversion optimization purposes.

While it’s tempting to look at the conversion results, the most important factor is
to look for drop offs, and find out what have you missed.
How many customers have you lost and Why that happened?

You need to have a close look at your conversion funnel and
Find out what stage of your funnel are you loosing visitors, and leads.
And focus on optimizing it and consider what changes you can possibly make to increase conversion rate.

As soon as you’ve spotted the drop offs,
you can write your first hypothesis for each step of your conversion funnel
It might be the Content that need to be optimized,
It might be the page speed, or loading time, it could be the font size, etc. etc.

How does Conversion Optimization Help You Improve User Experience (UX).

The way we look at user experience in growth hacking, customer acquisition, and conversion rate optimization is totally different from Branding and Design stand point.

Al thought these strategies are all connected, and should complement each other,
At this stage we are not concern about how does your website look
Because Customer journey optimization, and User Experience should take to account the essential CRO elements such as

– How easy can your visitors Navigate through your website
– How easy it is to find the right product or service on your site
– How fast does it load the pages.
– How user friendly is your sales process, and check out page.
– etc…

Apart from dozens of benefits that a great UX bring to your business,
paying attention to your user experience can help you reduce two disastrous factors that kills your conversion rate.

Exit Rate
Exit Rate is factor that you need to monitor for each page.
Exit rate has negative impact on your conversion rate because it refers to the percentage of visitors who did not take any action and left the website.

Because the exit rate shows you the last age before your visitors leave,
you can focus on increasing the user experience in those pages,
and conduct a few experiments to see what makes people leave without taking any actions.

If you’re experiencing very high exit rate on your product page
That could indicate that you’re either not able to connect with your visitors through your Value proposition
Or you have either over-priced, or under-priced your service,
Or your sales letter and copy writing is not engaging
Or maybe there is a technical issue with the landing page.

Bounce Rate
Your Bounce Rate is another factor you have to closely monitor.

The lower the bounce rate the better,
Because it refers to the number of visitors who don’t move on to the next page, and leave your website as soon as they land on the firs page.
Since every page has its own bounce rate, you can investigate the main reason that visitors leave
and optimize the page for higher conversion.
[I have explained everything here about how to optimize your landing page and improve your bounce rate]

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